“What matters in life is not what happens to you but what you remember and how you remember it.” - Gabriel Garcia Marquez (Colombian novelist)
May 23, End Of Day
The data center market in Latin America is witnessing unprecedented growth. Investments in the sector reached USD 6.36 billion in 2023 and are projected to grow to USD 10.06 billion by 2029, growing at a CAGR of 7.95% during the forecast period. This surge is driven by the rising demand for cloud services, the deployment of 5G technology, and increased adoption of AI workloads.
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Key Trends and Developments
VREIX: VREIX is a mobile ERP designed for construction companies, addressing industry challenges such as poor control, inefficiency, and outdated information. The platform enables users to record and report data quickly directly from the construction site. Dive deeper into the case here.
Alfred: Alfred is transforming the vehicle maintenance industry into a hassle-free experience. Alfred has already demonstrated significant traction by registering over 25,000 vehicles across 6 cities and completing more than 60,000 services. Dive deeper into the case here.
Gamefic: Gamefic addresses the challenge of maintaining employee engagement, especially in the era of remote work. They have over 60 clients utilizing their gamification solution and have generated more than 300k in revenue in 2023. Dive deeper into the case here.
Dive deeper into other fundraising firms in LatAm here.
Dominican Republic: President Luis Abinader, re-elected for a second term over the past weekend, plans to discuss fiscal reform with opposition leaders. The reforms will focus on taxation, public spending, education, healthcare, and police reform, aiming to protect vulnerable populations without risking economic growth. Abinader also pledged unity and impartial leadership, vowing not to seek a third term. Despite his popularity and economic successes, he faces challenges including crime and inequality.
Brazil: Brazil's central bank will propose crypto regulation in phases, with the first regulatory proposals expected by year-end. This extends the timeline initially set for June 2024. Following a public consultation in late 2023, a new consultation will begin in the second half of this year to address diverse activities and structures in the virtual asset sector. The central bank aims to create a comprehensive regulatory framework based on broad public input.
Guatemala: Walmart plans to invest $700 million in Guatemala over the next five years, starting with a new store. This investment follows a recent announcement of $600 million for a new distribution center in Costa Rica. Walmex reported strong same-store sales growth in Guatemala, Nicaragua, and Honduras, with more modest growth in Costa Rica.
Check our recently published insights here. Recent post:
🌱 What is the current state of Agtech in Latin America?
In Latin America, which is a vital player in the global food market, agtech solutions are revolutionizing agricultural sector. As the world's breadbasket, the region faces the challenge of increasing its agricultural output by 80% by 2050 to meet growing demands. Agtech offers promising solutions by enhancing productivity and sustainability across diverse farming scales—from large-scale operations to smallholder farms.
Innovations Driving Change:
🚜 Precision Agriculture: Maximizing efficiency and yield through advanced technology.
🌾 Biotechnology: Tailoring crops to be more resilient and productive.
📡 Digital Farming Platforms: Empowering farmers with data for better decision-making.
Latin America's vast tracts of untapped agricultural land present a unique opportunity for Agtech. As the region harnesses these technologies, it not only aims to secure its position as a global agricultural leader but also ensures food security and economic growth.
